Ashton Thomas Private Wealth LLC Reduces Stake in The Progressive Co. (NYSE:PGR)

Ashton Thomas Private Wealth LLC lessened its holdings in shares of The Progressive Co. (NYSE:PGR) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,208 shares of the insurance provider’s stock after selling 600 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Progressive were worth $4,113,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PGR. Canada Pension Plan Investment Board grew its holdings in shares of Progressive by 548.2% during the first quarter. Canada Pension Plan Investment Board now owns 811,653 shares of the insurance provider’s stock valued at $167,866,000 after buying an additional 686,433 shares during the last quarter. Capital International Investors boosted its holdings in Progressive by 15.7% in the first quarter. Capital International Investors now owns 4,925,019 shares of the insurance provider’s stock valued at $1,018,592,000 after purchasing an additional 670,006 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Progressive by 29,701.6% in the third quarter. International Assets Investment Management LLC now owns 596,331 shares of the insurance provider’s stock valued at $151,325,000 after purchasing an additional 594,330 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Progressive by 206.8% in the third quarter. SG Americas Securities LLC now owns 875,660 shares of the insurance provider’s stock valued at $222,207,000 after purchasing an additional 590,235 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Progressive during the 1st quarter worth about $116,852,000. Hedge funds and other institutional investors own 85.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PGR shares. Morgan Stanley increased their target price on shares of Progressive from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Piper Sandler upped their price target on shares of Progressive from $250.00 to $252.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. TD Cowen upped their price target on shares of Progressive from $197.00 to $237.00 and gave the stock a “hold” rating in a research report on Friday. HSBC upgraded shares of Progressive from a “hold” rating to a “buy” rating and set a $253.00 price target for the company in a research report on Monday, August 12th. Finally, Hsbc Global Res upgraded shares of Progressive from a “hold” rating to a “strong-buy” rating in a report on Monday, August 12th. Seven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Progressive has a consensus rating of “Moderate Buy” and a consensus target price of $269.56.

Insider Buying and Selling at Progressive

In related news, insider Steven Broz sold 2,981 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now owns 26,353 shares of the company’s stock, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Dyke Kahina Van sold 2,180 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $252.28, for a total transaction of $549,970.40. Following the transaction, the director now owns 13,723 shares in the company, valued at $3,462,038.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Broz sold 2,981 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $251.15, for a total transaction of $748,678.15. Following the transaction, the insider now owns 26,353 shares in the company, valued at approximately $6,618,555.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,843 shares of company stock worth $18,674,912 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Progressive Stock Down 2.9 %

Progressive stock opened at $252.42 on Tuesday. The Progressive Co. has a 52 week low of $149.14 and a 52 week high of $263.85. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.25. The company’s 50-day moving average price is $251.57 and its two-hundred day moving average price is $228.68. The stock has a market cap of $147.87 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 0.72 and a beta of 0.36.

Progressive (NYSE:PGR) last announced its earnings results on Tuesday, October 15th. The insurance provider reported $3.58 EPS for the quarter, topping the consensus estimate of $3.40 by $0.18. The company had revenue of $19.43 billion during the quarter, compared to analysts’ expectations of $18.95 billion. Progressive had a net margin of 11.27% and a return on equity of 33.10%. On average, analysts expect that The Progressive Co. will post 13.15 EPS for the current fiscal year.

Progressive Company Profile

The Progressive Corporation, an insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States. It operates in three segments: Personal Lines, Commercial Lines, and Property.